STATE  OF  NEW-YORK. 


No.  4. 

IN  SENATE, 

January  7,  1836. 


REPORT 

Of  the  select  joint  committee  of  the  Senate  and  As- 
sembly, on  the  special  message  of  the  Governor,  &c. 

The  select  joint  committee  of  the  Senate  and  Assembly,  to  whom 
was  referred  the  special  message  of  his  excellency  the  Governor, 
and  various  memorials  and  bills  from  the  Assembly,  in  relation  to 
the  late  fire,  which,  on  the  16th  and  17th  of  December  last,  de- 
vastated an  important  section  of  the  city  of  New-York, 

REPORTED: 

That  the  following  information  has  been  obtained  from  members 
of  a  committee,  delegated  by  a  meeting  of  citizens  of  New-York 
to  represent  their  views  to  the  officers  of  the  State  Government. 
The  facts  stated  are  also  within  the  knowledge  of  individual  mem- 
bers of  the  joint  committee. 

The  loss  which  has  been  sustained  in  buildings,  including  seve- 
ral public  edifices,  is  supposed  to  be  about  six  hundred  and  seven- 
ty-four. Among  them  immense  ranges  of  capacious  and  valuable 
stores  and  warehouses  have  been  levelled  to  the  dust,  and  nearly 
one  thousand  mercantile  firms  dislodged.  These  firms  employed, 
as  is  estimated,  from  3,500  to  4,000  clerks,  besides  cartmen,  por- 
ters and  labourers,  many  of  whom  depend  for  their  support  upon 
their  daily  and  monthly  earnings.  The  total  amount  of  property 
destroyed  is  believed  to  be  from  eighteen  to  twenty  millions  of 
dollars.  The  fire  burnt  over  an  area  of  fifty-two  acres,  compris- 
ing a  densely  built  and  exclusively  mercantile  portion  of  the  city, 


[Senate  No.  4.1 


A 


2 


[Senate 


and  destroyed  all  within  that  compass,  except  three  or  four  build- 
ings. 

Before  the  occurrence  of  this  great  disaster,  there  were  twenty- 
five  fire  insurance  companies  in  the  city  of  New-York,  nearly  all 
of  which  were  conducting  a  prosperous  business.  The  aggregate 
capital  of  these  companies  amounted  to  .$8,170,000.  Fourteen  of 
them  are  now  believed  to  be  insolvent,  four  have  their  capitals 
very  much  impaired,  and  several  of  the  others  are  losers  to  a  heavy 
amount.  It  is  estimated  that  the  total  loss  of  the  Fire  Insurance 
companies  which  belong  to  the  city,  is  about  seven  millions  of  dol- 
lars, leaving  little  more  than  one  million  of  sound  capital. 

This  statement  exhibits  an  amount  of  property  destroyed  which 
has  seldom  been  paralleled  in  the  devastations  committed  by  fire. 
The  losses  sustained  by  individuals  are  enormous,  and  some  of 
them  of  the  most  afflicting  character.  The  committee  are  aware 
that  the  legislation  of  the  State,  in  reference  to  this  event,  can 
only  be  conducted  upon  general  principles.  To  restore  to  activi- 
ty the  industry  and  enterprize  of  thousands;  to  save  from  ruin  a 
large  portion  of  a  useful  community,  and  reconstruct  a  system 
which  promotes  the  prosperity  of  the  State  at  large,  come  proper- 
ly within  the  scope  of  duties  devolved  upon  the  Legislature.  It  is 
desirable,  therefore,  thai  promptitude  and  liberality  should  charac- 
terize the  action  of  the  Legislature  in  this  emergency. 

The  following  several  bills  are  reported  by  the  committee,  in 
the  confident  belief  that  their  passage  will  enable  the  city  of  New- 
York  to  retrieve  in  a  great  measure  its  losses,  and  to  retain  its 
commercial  relations  in  full  activity. 

First.  "  An  act  to  authorize  the  mayor,  aldermen  and  common- 
alty of  the  city  of  New-York,  to  raise  money  by  loan,  &c." 

Second.  "  An  act  to  enable  the  insolvent  Fire  Insurance  compa- 
nies more  conveniently  to  adjust  their  affairs." 

Third.  "  An  act  to  enable  the  stockholders  of  the  said  compa- 
nies, and  others,  to  replenish  their  stock,  revive  and  continue  their 
charters." 

Fourth.  "  An  act  for  the  relief  of  the  city  of  New-York." 

The  first  bill  comes  directly  from  the  constituted  authorities  of 
the  city. 


No.  4.] 


3 


These  several  bills  the  committee  beg  leave,  by  unanimous  con- 
currence, to  present  for  the  action  of  the  Legislature.  Their  prin- 
ciples will  be  explained  at  the  proper  time.  It  is  the  object  of 
these  bills  to  restore,  as  far  as  practicable,  the  capital  which  has 
been  destroyed.  They  contemplate  securing  this  result  at  the  ear- 
liest possible  period,  so  that  the  city  and  State,  in  addition  to  una- 
voidable losses,  may  not  also  sacrifice  the  benefits  of  the  spring 
and  summer  trade  of  the  present  year. 

The  opinion,  that  the  restoration  of  the  business  pursuits  of  our 
great  commercial  mart,  to  their  wonted  activity,  is  not  less  impor- 
tant to  the  country  than  to  the  city,  is  one  of  general  prevalence; 
and  is  a  sure  indication  of  the  expectations  which  the  public  en- 
tertain from  the  liberal  and  enlightened  counsels  of  the  State. 

The  committee  will  only  observe  further,  that  the  relief  to  be 
effectual  must  be  such  as  will  not  require  much  time  to  organize 
and  put  into  active  operation.  The  last  mentioned  bill  is  construct- 
ed upon  that  principle,  and  its  provisions  are  drawn  in  conformity 
with  the  recommendations  contained  in  the  special  message  of  the 
Governor.  Any  less  expeditious  measures  than  those  proposed, 
would  defeat  some  of  the  most  important  objects  so  desirable  to  be 
accomplished. 

In  presenting  this  report,  the  joint  committee  do  not  ask  to  be 
discharged  from  the  further  csnsideration  of  the  various  matters 
referred  to  them. 

Respectfully  submitted. 

M.  VAN  SCHAICK, 

Com.  of  the  Senate. 

PROSPER  M.  WETMORE, 
Com.  of  the  Assembly. 


IE*  ICtbrtH 


SEYMOUR  DURST 


When  you  leave,  please  leave  this  book 

Because  it  has  been  said 
"Ever'thing  comes  t'  him  who  waits 

Except  a  loaned  book." 


OV^    lit"10  f*>oxSS 


Avery  Architectural  and  Fine  Arts  Library 
Gift  of  Seymour  B.  Durst  Old  York  Library 


